The Bank of Industry Limited (BOI) is Nigeria’s oldest, largest and most successful development financing institution. It was reconstructed in 2001 out of the Nigerian Industrial Development Bank (NIDB) Limited, which was incorporated in 1964. The bank took off in 1964 with an authorized share capital of 2 million (GBP).
About Graduate Entrepreneurship Fund (GEF)
The Graduate Entrepreneurship Fund (GEF) is a special N2 billion empowerment programme for serving members of the National Youth Service Corps (NYSC) which was launched on October 5, 2015. This novel schemes which is a joint initiative of the Bank of Industry (BOI) and the National Youth Service Corps (NYSC), has the following objectives:
- Encourage graduates of tertiary institutions currently undergoing the compulsory one-year NYSC programme, to venture into business and become employers of labour rather than job seekers.
- Address the entrepreneurship capacity gap to the NYSC members who are expected to produce bankable business plans after the three-day capacity building programme.
- Deepen financial inclusion by de-risking the NYSC members and making them eligible for concessional loans ranging between N500,000 and N2 million to be provided by BOI
- Ensure sustainability of the businesses of the eventual loan beneficiaries through effective monitoring by the NYSC Directorate and BOI.
Call for Entries – 2nd Round of the BOI Graduate Entrepreneurship Fund (GEF)
The Bank of Industry Limited (BOI) invite applications from all serving Corps Members with a potentially viable business ideals to apply for a loan under the N2 billion Graduate Entrepreneurship Fund (GEF) Programme.
The GEF Programme comprises the following:
- Online Business Plan Competition to select the most promising real sector business ideas, Selection/screening of participants shall be done via the GEF online application portal.
- Three days intensive entrepreneurship capacity building programme
- Loan amount of up to N2 million to be provided to each successful participant with bankable business plans within BOI’s 35 SME clusters (list at BOI’s website: www.boi.ng) at an interest rate of 9% per annum, with tenors ranging from 3-5 years inclusive of 6 – 12 months moratorium period.
Venues for Capacity Building Programme
The capacity building programme is scheduled to hold simultaneously at the following venues:
Geo-Political Zone/State – NYSC Camp Location
Bwari Area Council,
North – Central
Former Martins TTC,
Aniocha North L.G.A,
Ikot Itie Udung,
Nsit Atai LGA,
Akwa Ibom State
Sibre Airport Road,
Youth Multi-Purpose Centre
Aisu College Hospital Road,
Ede North LGA,
The GEF Programme Comprises the Following:
- Submission of Business plan online via: www.boi.ng/gef
- 4 days intensive Entrepreneurship Capability Building Programme will hold at the centers listed above.
- Loan amount of up to N2 million to be provided to each successful participants at: Interest Rate, 9% Tenor: 3-5 years, Moratorium: 6-12 Months.
How to Apply
Click here to apply online
Deadline: 7th November, 2016.